In 1976 the law was changed to require 5 years until student loans could be discharged through bankruptcy. In 1990 it became 7 years. In 1998 the waiting period

In 1976 the law was changed to require 5 years until student loans could be discharged through bankruptcy. In 1990 it became 7 years. In 1998 the waiting period was eliminated, leaving only "undue hardship" as the allowed way to get rid of that debt. Those waiting periods were put there as a counter to "the obvious play." Let student loans be dischargable through normal bankruptcy again. If a waiting period of 5 years or 7 years isn't enough, why not? Why is a potential life-long debt from a mistake made while still a teenager or in one's early 20s that important to maintain? If it's still so risky, don't issue student loans! If a college education is so important to the country then the government can provide direct funding to the school and students. > you'll get your money back Plus interest, with earnings that exceed putting the same money into other investments.